Petrochemicals group Ineos has confirmed that it will make “a significant strategic investment” in sports apparel brand Castore.

Chairman of Ineos, Sir Jim Ratcliffe, is a sports enthusiast. He has completed expeditions to the North and South Poles and, in 2013, ran the Marathon Des Sables multi-day ultra-marathon in the Sahara Desert. He also owns 25% of Manchester United.

On confirming his group’s investment in Castore, the sports brand’s co-founder and chief executive, Tom Beahon, said it was a demonstration of commitment to the business and its “global growth ambitions”. He said he looked forward to working with Ineos and Sir Jim Ratcliffe to fulfil those ambitions.

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